EUR/USD Open 1.3900 High 1.4087 Low 1.3871 Close 1.3879
On Thursday Euro/Dollar resumed decreasing significantly with 210 pips. The European currency depreciated from 1.4087 to 1.3871 yesterday, matching the negative Interbank sentiment projection at under -3%, closing the day at 1.3879. This morning the Euro is trading quietly against the Dollar, at the lower end of yesterday's range for now. On the 1 hour chart the downward channel has renewed, while on the 3 hour the new downward channel looks good. Break above the nearest resistance and yesterday's top at 1.4087 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3871, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3755. Today's focus is on Germany CPI and HICP, France Industrial production, and Italy GDP Q2, at 6, 6:45 and 8 GMT respectively. Quotes are moving just bellow the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.4087 1.4200 1.43185
Technical support levels: 1.3871 1.3755 1.3636
Trading range: 1.3925 - 1.3850
Sell at 1.3914 SL 1.3944 TP 1.3864
Yesterday we made +7 pips profit on EUR/USD from the following sent to clients only signal:
8:05 GMT+1 Buy EUR/USD at 1.4082 SL 1.4056 TP 1.4132, exit sent at 8:06 GMT+1.
Total yesterday +105, as shown in details at http://www.zifx.com/performance.php.